735 Allens Avenue, Providence, RI 02905
sale
$3,950,000
|
Office
Courtesy Of Compass Massachusetts, LLC
3.09 Acres - Full City Block Development Opportunity - Frontage on Allens, Virginia, Chapman, and Toronto Avenues with potential for significant subdivision. Originally home to Armbrust International (est. 1929), these buildings reflect over a century of craftsmanship in Providence, once America's Jewelry Capital. Constructed in 1947 and remodeled in 1968, the property blends classic mid-century design with upgraded infrastructure and expanded capacity. Totaling 100,000+ sq ft, the well-maintained buildings feature major updates including heating, HVAC, and roof. Flexible layouts, proven construction, and thoughtful improvements provide both character and long-term investment strength. Potential uses include apartments, life sciences, manufacturing, industrial, office/medical, education, or mixed-use redevelopment. Located in a designated Opportunity Zone, investors may qualify for significant tax benefits - including deferred and reduced capital gains taxes and potential full exclusion on appreciation after 10 years. Also available for lease.
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Property Features
- Age: Over 50 Years Old
- Amenities: Security System
- Cooling System: Central Air
- Exterior Type: Masonry
- Floors: 3
- Heating System: Baseboard
- Heating System: Central
- MLSID: 1402530
- Parking Spaces: 90
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